Fluor Corp. of Irvine Tuesday reported booking...

Fluor Corp. of Irvine Tuesday reported booking $2 billion in new engineering and construction orders for the first quarter ended Jan. 31--the highest quarterly level in 3 1/2 years, according to Fluor Chairman and Chief Executive David S. Tappan Jr. In comparison, the company reported $4.2 billion in new orders during all of fiscal 1984.

Tappan reported the bookings to securities analysts attending the tenth annual Southern California Energy Conference in Newport Beach. However, Tappan cautioned that the new orders did not mean a quick turnaround for Fluor’s depressed earnings because “there is a lag time between the booking of new orders and when the orders produce earnings.”

For the fourth quarter ended Oct. 31, 1984, Fluor reported a loss of $21.8 million on revenues of $1 billion.

“In the short term, we are likely to see a continued downward pressure on earnings, even though business conditions in many of Fluor’s key markets are showing improvement,” Tappan said in a prepared speech. He said although profit margins are improving, prices are still very competitive in the engineering and construction industry.

Tappan also told analysts that when the company’s strategic plan to restructure Fluor is fully implemented, “you will see a company with engineering and construction activities in more industries and geographic locations.”

He said Fluor’s St. Joe Minerals subsidiary is “vigorously marketing” its expertise in minerals exploration and the development and management of mines.

“This new approach will mean a reduction of our position in some mineral assets we own, while perhaps taking new positions in other minerals. We intend to be very flexible,” Tappan said.